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The Customer Support Challenge: Pepperstone

May 20 2013

Friday was a busy day at work and we didn't have a chance to publish the chat with contestant number five of the first week of the Forex Customer Support Challenge - Pepperstone. We know you love us too much, though, and will forgive us.

But firs, here is what happened in Week 1 of the challenge. 
We spoke to, Alpari UK, GFT, IBFX and Pepperstone. Some of the chats were funny, others were funnier, and the one with Pepperstone was plain annoying. 
GFT's customer support was the one for which we had the lowest expectations and boy were we surprised when it managed to kick ass and blow the competition away by scoring 20 out of 25 points! Let's take a look at the leaderboard for Week 1: 
1. GFT – 20 points
2. – 16 points
3. IBFX – 12 points
4. Alpari UK – 11 points
5. Pepperstone – 8 points
Congrats, GFT! You will be competing with the winners of the other two weeks of the challenge to see who grabs the title for best customer support. 

The Customer Support Challenge: Pepperstone

Operator Pepperstone Live Support has joined the chat.
Pepperstone Live Support: Welcome to Pepperstone. How may I help you?
Hannah: Hi, I've never traded forex before and I want to try out your platform but I have some questions first (sorry if some of them are a bit silly). I read a few reviews about brokers and they all mentioned slippage but they didn't say what this is. Can you please tell me what's that?
Pepperstone Live Support: Slippage can happen in any markets. Here is an article from investopedia: [link to an article on slippage on Investopedia]
Hannah: Is that investopedia a good site? Can I trust it? There's a lot of stuff on the internet that is not true, that's why I'm asking – I only trust Wikipedia...
Pepperstone Live Support: yes you can trust investopedia
Hannah: Good. So is there a lot of slippage with Pepperstone?
Pepperstone Live Support: It will depend on your trading strategy. In forex, slippage occurs when a limit order or stop loss occurs at a worse rate than originally set in the order. Slippage often occurs when volatility, perhaps due to news events, makes an order at a specific price impossible to execute. In this situation, most forex dealers will execute the trade at the next best price. So if you are only trading during news events, there is a high chance of slippage. Some traders don't trade during news events and don't experience any slippage
Hannah: Oh, ok. Is that the 8 o'clock news you're talking about?
Pepperstone Live Support: What do you mean?
Hannah: You said people trade when there's news – is that the evening news on tv?
Pepperstone Live Support: Here is another article for you if you would like to learn about news trading: [link to an article on news trading on Investopedia]
Hannah: Cool, i'll check it out. Another question: let's say i make a trade and then close the trading software by mistake (I do that a lot). what will happen to my trade?
Pepperstone Live Support: How do you make your trading decisions?
Hannah: I don't know yet – I have never traded before. I'm just doing some reading on forex but there's too much information; I'm getting a bit lost.
Does it depend on my trading decisions whether my trade will be closed if i close the trading platform by accident?
Pepperstone Live Support: Have you downloaded our demo? Our demo will work like our live account and it is free. You can start with the demo to learn how the software will work when you close it
Hannah: Ok, i will try. You don't seem to be in the mood of explaining anyway. Bye!

The Sentence

Response time:
Accuracy of the answers: 
Personal attitude:
Sense of humor:
Overall score: 8/25
Overall impression: Pepperstone's customer support sucks. I mean, there's nothing wrong with giving links to Investopedia to add to what you have already explained but this guy didn't explain anything at all. He basically told me to go figure it all out myself: want to know how the platform works? Try the demo. Have questions about trading? Go on Investopedia. The person I talked to literally couldn't care less.
I'm not saying it's his job to teach me trading but come on – a tiny bit of effort or interest in the conversation would have been nice, and so would have been a nicer and less rude attitude.
More of the Forex Customer Support Challenge: 


TAGS: forex broker  customer service  customer service challenge  best customer support 

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